Feb CCA Highlights: Armenia keeps cutting rates, Georgia's GDP growth has a very strong start to the year, Uzbekistan issues Eurobonds for US$1.5bn, Tajikistan and Kyrgyzstan settle multi-year border dispute
The Feb CCA highlights key macro-political events in the region:
Armenia: GDP grows by 5.9% in 2024
Armenia: CPI rises by 1.7% y/y in Jan
Armenia: Monthly economic indicator increases by 7.1% YoY in Jan
Armenia: Central Bank cuts policy rate by 25bpts to 6.75%
Armenia: FX reserves fall to US$3.34bn in Jan
Armenia: Issue of attracting US$150mn for launch of Amulsar gold mine is being resolved
Armenia: National Assembly approves bill on beginning of process of accession to EU
Armenia: Simultaneous membership of Armenia in EEU and EU is impossible
Armenia: Armenia to leave EEU if it signs free trade agreement with EU
Armenia: Yerevan and Baku discuss draft instructions for delimitation of state border
Armenia: The Armenian Constitution needs to be amended
Azerbaijan: GDP contracts by 0.9% YoY in Jan
Azerbaijan: CPI accelerates to 5.4% YoY in Jan
Azerbaijan: FX Reserves edge up to US$10.99bn in Jan
Azerbaijan: Budget posts surplus in Jan
Azerbaijan: Fitch: SOCAR's operating profit will exceed US$3.3bn in 2025
Azerbaijan: Azerbaijan’s problematic asset risks plummet amid economic growth – Fitch
Azerbaijan: Azerbaijan approves new banking risk management rules
Azerbaijan: Oil and gas production decline in Jan
Azerbaijan: Baku closes BBC, Sputnik offices in the country
Azerbaijan: Azerbaijan plans to re-open passenger rail service with Georgia
Azerbaijan: Company set up to manage Black Sea power cable project
Georgia: CPI increases by 2.0% YoY in Jan
Georgia: President appoints Natia Turnava to the position of Central Bank's Governor
Georgia: Parliament approves the four members of NBG's Board
Georgia: Monthly economic indicator expands strongly by 11.1% YoY in Jan
Georgia: PPI moderates to 7.2% YoY in Jan
Georgia: FX reserves broadly constant in Jan
Georgia: S&P affirms Georgia at BB
Georgia: Central bank made no sales/purchases of FX in Jan
Georgia: IMF concludes mission to Georgia
Georgia: Tourism Administration expects 8mn visitors to Georgia in 2025
Georgia: Georgia's ruling party to tighten legislation on media, NGOs
Georgia: Parliament adopts changes in law on grants
Georgia: Railways disqualifies Ukrainian Consortium from bid to repair locomotives
Georgia: PM argues that the situation in Georgia is very stable
Georgia: Georgia's score in the Corruption Perceptions Index remains unchanged in 2024
Georgia: More than 80% of Georgians say there is a political crisis in the country
Georgia: Russian MFA: Diplomatic relations with Georgia will eventually be restored
Uzbekistan: CPI edges up to 9.9% YoY in Jan
Uzbekistan: Inflation expectations still high in Jan
Uzbekistan: FX reserves rise to US$42.9bn in Jan
Uzbekistan: The size of Uzbekistan’s unobserved economy exceeds UZS 505tn (US$40bn)
Uzbekistan: Central Bank defines key economic risks for 2025
Uzbekistan: In 2024, the Central Bank conducted currency interventions worth US$7.6bn
Uzbekistan: S&P: The growth of consumer loans in Uzbekistan poses increased risks
Uzbekistan: Uzbek President signs new law on bank deposit guarantees
Uzbekistan: China surpasses Russia in the number of enterprises in Uzbekistan
Uzbekistan: Trade deficit widens to US$2.04bn in Jan
Uzbekistan: Central Bank warns of possible trade balance worsening due to US-China tensions
Uzbekistan: President outlines major transport infrastructure projects
Uzbekistan: Construction of the Trans-Afghan railway set to begin in 2025
Uzbekistan: The capital of banks in Uzbekistan reached UZS 114.79tn at the beginning of 2025
Uzbekistan: Uzbekistan issues US$1.5bn in international bonds
Uzbekistan: International consortium to be created to build small nuclear power plant
Tajikistan: Inflation constant at 3.6% YoY in Jan
Tajikistan: Central Bank lowers policy rate by 25bpts to 8.75%
Tajikistan: Central Bank lowers the CPI target from 6.0% to 5.0%
Tajikistan: GDP grows by 8.4% in 2024
Tajikistan: Tajikistan and Kyrgyzstan sign long-waited deal on border demarcation
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